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AVOD (advertising-based video on demand) Services Market 2023 Global Analysis, Opportunities and Forecast to 2030

CALIFORNIA, UNITED STATES, December 5, 2023 /EINPresswire.com/ -- Market Overview:

AVOD services allow users to stream video content for free in exchange for watching advertisements. These services use business models focused on ad-supported streaming and provide access to a variety of movies, TV shows and other on-demand video content without subscription fees.

Market Dynamics:

The growth of the AVOD services market is driven by the increasing penetration of OTT streaming among consumers. According to a recent report, Additionally, the abundance of low-cost internet connectivity plans with high-speed data capabilities is increasing the adoption of streaming services. Furthermore, AVOD services offer an affordable option compared to subscription video on demand services, thereby attracting price-sensitive customers. This is helping to expand the user base of AVOD platforms across developing regions.

According to Coherent Market Insights study, The global AVOD Services market size was valued at US$ 28.09 billion in 2023 and is expected to reach US$ 71.16 billion by 2030, grow at a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030

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Growing Popularity of Smartphones and Device Connectivity

The number of smartphone users is growing exponentially around the world. According to recent reports, the number of smartphone users has surpassed over 2.5 billion globally. Along with this rise in smartphones usage, high-speed internet connectivity and adoption of 4G/5G networks are also rising. This growing smartphone penetration and network connectivity has significantly boosted the adoption of on-demand video services globally as people can now easily access and stream video content on their smartphones and tablets. With the proliferation of smartphones and connected devices, the AVOD market is gaining huge traction.

Rising Demand for Low-Cost and Ad-Supported Content

While subscription video on demand (SVOD) services like Netflix and Amazon Prime are gaining popularity, monthly subscription fees still remain a barrier for many consumers especially in developing countries. This has boosted demand for free or low-cost AVOD services that are supported by advertisements. Viewers are now willing to watch ads in exchange for free or low-priced access to a wide variety of TV shows and movies. Many global media companies and tech giants are focusing on AVOD services to target this sizable consumer base and gain more viewership at lower costs.

Growing Adoption of Smart TVs and Connected Devices

The availability of smart TVs and digital media devices like streaming sticks, gaming consoles etc have made it easier for consumers to access on-demand video content on their television sets. Smart TVs already account for over 50% of the global TV market. The proliferation of smart home devices allows streaming content from any device to the television wirelessly. This convergence of smart TVs and connected devices has enhanced the reach and consumption of AVOD services on bigger screens within living rooms. Media companies are leveraging this trend to distribute their AVOD platforms across various smart devices.

Stringent Data Privacy Regulations

With the growing instances of data breaches and privacy issues involving user data, governments worldwide are imposing stringent regulations around data privacy and security. The General Data Protection Regulation (GDPR) implemented by the European Union and the California Consumer Privacy Act (CCPA) in the United States are a few examples. These regulations make it mandatory for companies to obtain clear and explicit consent from users to collect, process and share their personal information. The stringent compliance requirements increase operational challenges and costs for AVOD platforms that heavily rely on targeted advertising and user data collection. Many smaller players find it difficult to adhere to the rising regulatory norms surrounding consumer privacy.

Growing Focus on Targeted Advertising

Traditional broadcast television advertising largely involved interruptive ad placements with limited options to track engagement. However, with AVOD services, media companies now have extensive data on viewers like their interests, browsing history, device usage patterns etc. This allows for highly targeted ad campaigns and improved matching of ads with the right audience. Many AVOD platforms are heavily investing in leveraging artificial intelligence, machine learning and analytics to deliver personalized and relevant ads to each user. This targeted approach enables higher engagement and return on ad spend for brands. It also improves monetization opportunities for AVOD providers leading to continued growth in targeted digital video advertising.

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Increasing Dominance of Global Tech Giants

Over the past few years, tech giants like Google, Facebook, Amazon and Netflix have significantly expanded their presence in the global online video and AVOD markets. These companies have massive user bases, strong streaming platforms, extensive technical capabilities and deep pocket to outbid competitors. They are strategically investing across content, technology and global expansion. This poses a major threat to other regional media companies and AVOD startups. The global tech players are now dominating the market through scale, resources as well as user data monopolies. Their growing clout in the digital advertising market and foray into original programming further strengthens their dominance over the long run in the AVOD space.

The major players operating in the market include:

➱ YouTube (Google)
➱ Hulu (Disney)
➱ Peacock (NBCUniversal)
➱ Tubi (Fox Corporation)
➱ Pluto TV (ViacomCBS)
➱ IMDb TV (Amazon)
➱ Roku Channel (Roku)
➱ Crackle (Chicken Soup for the Soul Entertainment)
➱ Xumo (Comcast)
➱ Vudu (Walmart)
➱ The Roku Channel (Roku)
➱ Popcornflix (Screen Media Ventures)
➱ MX Player (Times Internet)
➱ Voot (ViacomCBS)
➱ Tubi TV (Fox Corporation)

These companies are focusing on new product development, partnerships, collaborations, and mergers and acquisitions to increase their market share and maintain their position in the market.

Global AVOD Services Market Detailed Segmentation:

By Content Type:
◘ Movies
◘ TV Shows
◘ Original Series
◘ News
◘ Sports
◘ User-Generated Content (UGC)

By Platform Type:
◘ Standalone AVOD platforms
◘ AVOD offerings within broader streaming services
◘ AVOD-supported social media platforms

By Genre:
◘ Drama
◘ Comedy
◘ Action/Adventure
◘ Horror/Thriller
◘ Romance
◘ Sci-Fi/Fantasy
◘ Documentary
◘ Animation

By Device:
◘ Mobile devices (smartphones, tablets)
◘ Desktop and laptops
◘ Smart TVs
◘ Streaming devices (e.g., Roku, Amazon Fire TV, Apple TV)

By Advertising Format:
◘ Pre-roll ads
◘ Mid-roll ads
◘ Post-roll ads
◘ Banner ads
◘ Interactive ads
◘ Native ads

Market segment by Region/Country including:

- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America (Brazil, Argentina and Colombia etc.)
- Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)

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Frequently Asked Questions (FAQs):

➱ What are the key factors hampering growth of the AVOD Services market?
➱ What are the major factors driving the global AVOD Services market growth?
➱ Which is the leading component segment in the AVOD Services market?
➱ Which are the major players operating in the AVOD Services market?
➱ Which region will lead the AVOD Services market?
➱ What will be the CAGR of AVOD Services market?
➱ What are the drivers of the AVOD Services market?

Mr. Shah
Coherent Market Insights
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